Investors Buy Johnson & Johnson (JNJ) on Weakness
Investors purchased shares of Johnson & Johnson (NYSE:JNJ) on weakness during trading on Tuesday. $271.69 million flowed into the stock on the tick-up and $89.25 million flowed out of the stock on the tick-down, for a money net flow of $182.44 million into the stock. Of all companies tracked, Johnson & Johnson had the highest net in-flow for the day. Johnson & Johnson traded down ($0.55) for the day and closed at $124.85
JNJ has been the subject of a number of research analyst reports. Standpoint Research initiated coverage on shares of Johnson & Johnson in a report on Friday, May 20th. They set a “sell” rating and a $94.00 price objective for the company. Barclays PLC reaffirmed an “overweight” rating and set a $125.00 price objective (up from $120.00) on shares of Johnson & Johnson in a report on Sunday, July 10th. BTIG Research lowered shares of Johnson & Johnson from a “buy” rating to a “neutral” rating in a report on Thursday, May 12th. Jefferies Group increased their price objective on shares of Johnson & Johnson from $109.00 to $113.00 and gave the company a “hold” rating in a report on Thursday, July 14th. Finally, Goldman Sachs Group Inc. set a $121.00 price objective on shares of Johnson & Johnson and gave the company a “neutral” rating in a report on Monday, June 13th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $117.04.
The stock has a market cap of $343.42 billion and a PE ratio of 23.27. The company’s 50-day moving average is $121.38 and its 200 day moving average is $111.86.
Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, July 19th. The company reported $1.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.06. The company earned $18.50 billion during the quarter, compared to analysts’ expectations of $17.98 billion. Equities research analysts forecast that Johnson & Johnson will post $6.69 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Shareholders of record on Friday, August 5th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.93%.
In other Johnson & Johnson news, VP Gary J. Pruden sold 9,735 shares of the company’s stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $116.03, for a total value of $1,129,552.05. Following the completion of the sale, the vice president now directly owns 43,630 shares in the company, valued at approximately $5,062,388.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Ronald A. Kapusta sold 3,957 shares of the company’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $114.77, for a total value of $454,144.89. Following the completion of the sale, the chief accounting officer now owns 29,682 shares of the company’s stock, valued at $3,406,603.14. The disclosure for this sale can be found here.
Other hedge funds recently modified their holdings of the company. Heritage Wealth Advisors boosted its stake in shares of Johnson & Johnson by 3.3% in the fourth quarter. Heritage Wealth Advisors now owns 9,944 shares of the company’s stock valued at $1,021,000 after buying an additional 317 shares during the last quarter. Lourd Capital LLC raised its position in shares of Johnson & Johnson by 8.3% in the fourth quarter. Lourd Capital LLC now owns 11,115 shares of the company’s stock valued at $1,142,000 after buying an additional 851 shares during the period. Eidelman Virant Capital raised its position in shares of Johnson & Johnson by 11.8% in the fourth quarter. Eidelman Virant Capital now owns 11,623 shares of the company’s stock valued at $1,193,000 after buying an additional 1,231 shares during the period. Wedgewood Investors Inc. PA raised its position in shares of Johnson & Johnson by 0.4% in the fourth quarter. Wedgewood Investors Inc. PA now owns 11,883 shares of the company’s stock valued at $1,221,000 after buying an additional 50 shares during the period. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in shares of Johnson & Johnson by 9.9% in the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 13,032 shares of the company’s stock valued at $1,339,000 after buying an additional 1,179 shares during the period.
Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. The Company’s segments include Consumer, Pharmaceutical and Medical Devices. The Consumer segment includes a range of products used in the baby care, oral care, skin care, over-the-counter pharmaceutical, women’s health and wound care markets.
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